Business and Financial Review • Aug 13, 2018
Business and Financial Review
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Fabege AB (publ)
Today, Huddinge Municipality and a consortium of several real estate businesses signed a letter of intent to develop central parts of Flemingsberg to form a leading international business district. This decision is the first step in achieving the vision of transforming Flemingsberg from a regional centre into an international business and research hub known as Stockholm South Business District.
On Monday 13 August, the Municipal Executive Board in Huddinge decided to approve an letter of intent between the municipality and the consortium, in which the real estate company Fabege AB has a leading role. This signals the start of an exciting journey, which will transform the current Flemingsberg over the course of the next 10 years.
The aim of the collaboration is to renew and develop Flemingsberg's station area and associated areas to create a venue for 50,000 jobs, 50,000 residents and 50,000 visitors in Flemingsberg. A venue where knowledge and creativity combine with business, local residents and visitors to create sustainable growth in an open and inviting environment.
Today, Flemingsberg is already a location that brings together higher education, world-leading research, government agencies and companies. Flemingsberg is therefore designated as a regional centre and promoted as an obvious hub for the infrastructure of tomorrow. With regional and national investments already approved and the local conditions that are already in place, Flemingsberg has unique opportunities to grow and create a balance in the Stockholm region.
− "A powerful option to the southern side of Stockholm will not only create jobs and local growth, but also better balance and competitiveness for the entire Stockholm region, The new
Fabege is a property company focusing on city district development and commercial properties. We develop attractive and sustainable districts with modern offices, housing and a broad range of services - together with strategic partners. Both our perspective and approach to ownership are long term and our passion is creating the right conditions for all those living, working and visiting our areas. We have a presence in a limited number of high-growth submarkets in the Stockholm region. Fabege's shares are listed on Nasdaq Stockholm, in the Large Cap segment. For more information, www.fabege.com
Stockholm South Business District will provide a real boost, not only for Huddinge and Stockholm, but for all of Sweden," according to Daniel Dronjak.
The consortium currently consists of Fabege and WA Fastigheter, both of which focus heavily on urban development. The latter also owns property in the area in question.
− "Together with Huddinge Municipality and other stakeholders, we want to transform the Flemingsberg area from being a strong regional centre into a dynamic international star," says Klaus Hansen Vikström, CEO of the consortium.
Further information and details about the planning work and the rest of the process will be published on an ongoing basis. The final decision regarding the letter of intent will be taken by the Municipal Council on 20 August.
In terms of Fabege's interests, large-scale investments will be made at the earliest in 2021/2022, which is when planning permission is expected to be approved.
Fabege AB (publ)
Christian Hermelin, CEO Fabege, phone +46 8 555 148 25,+46 733 87 18 25 Klaus Hansen Vikström, CEO of the consortium, phone 46 8 555 148 74, +46 70-239 34 81 Daniel Dronjak, Chairman of the Municipal Executive Committee in Huddinge, phone +46 8-535 301 57, [email protected]
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